How to transfer fund from LLC account to personal account

[Nick Liu]

this is not exactly 100% real-estate specific question, but I'm sure we have the right expertise in the family to answer it. I'm sure I'm be encountering the same  situation down the road, might as well prepare ahead of time.  

BACKGROUND:

A good friend of mine registered and funded a LLC last year planning on starting a business. The business didn't work out due to the current market condition (oil price drop...). He is planning on transferring the fund from his LLC account to his personal A/C.

QUESTION:

Is there a standard protocol to transfer fund from LLC a/c to personal a/c? Any tax implications?